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Praveen Kumar Jolly, TJG Holding Pvt. Ltd. Versus Director General of Income Tax (Investigation) Delhi & Others, Union of India Through Secretary & Others

2016 (3) TMI 976 - DELHI HIGH COURT

Assessment u/s 153A - Held that:- As far as TGJ s concerned, there is no denial of the fact that no search took place in its premises. Only a survey was undertaken. Consequently, the Court considers it to be a waste of time to require the Petitioners to now go before the AO.

For the search to be undertaken under Section 132 of the Act, there had to be a recording of reasons to believe that the information that may be unearthed cannot otherwise be gathered through a regular enquiry. It .....

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No. 9136/2015 (for stay) - Dated:- 22-3-2016 - S. Muralidhar And Vibhu Bakhru, JJ. For the Petitioner : Mr. Ved Jain with Mr. Pranjal Srivastava, Advocates For the Respondents : Mr. Rahul Chaudhary, Advocate ORDER 1. These writ petitions seek the quashing of the proceedings consequent upon notices dated 11th November 2014 and 30th April 2015 issued by the Assistant Commissioners of Income Tax, Central Circle-11and Central Circle-06 respectively under Section 153A of the Income Tax Act, 1961 ( A .....

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td. ( TJG ) (the Petitioner in W.P. (C) No. 5050/2015). From the enquiries made during the course of the search, it transpired that the Department was examining a transaction whereby Mr. Jolly and TJG transferred the shares of M/s. Lavender Infraprojects (P) Ltd. ( LIPL ) to NS Global Pvt. Ltd. ( NSGPL ) and 3C Resource Pvt. Ltd. (3RPL). During the course of the search itself, on 29th October 2013, a notice was issued to Mr. Jolly under Section 131(1A) of the Act requiring him to attend the offi .....

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re shareholding of LIPL. It is pointed out that a sum of ₹ 90,41,39,400 which included the bid money payable to DDA, the late payment interest and the stamp duty was paid by NGPL and 3RPL. The reply of Mr Jolly pointed out that the Department was proceeding on a mistaken assumption that the plot had been transferred at loss of ₹ 36 crores approximately. It was pointed out that as against ₹ 45 crores being the face value of the shares, the total consideration received for them w .....

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nitiation of the search proceedings against Mr Jolly was illegal. 5. As far as TJG was concerned, it was pointed out that only a survey was conducted under Section 133 of the Act. As there was no search of the premises of TJG, no notice to it under Section 153 A (1) of the Act could have been issued. 6. In the present petitions, notice was issued on 9th December 2014 and 20th May 2015 respectively. Stay was granted of further proceedings pursuant to the said notices. Since then, despite three he .....

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ion) (2003) 264 ITR 472 (All) urged that the very premise on the basis of which the search was undertaken under Section 132 of the Act in the premises of Mr Jolly was erroneous. There was no material unearthed on the basis of which any reason to believe could have been formed by the concerned officer for issuance of notice under Section 153A of the Act. As far as TJG was concerned, there was no search conducted at all. Therefore, the notice to it under Section 153 A (1) was legally unsustainable .....

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